Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. For more information regarding the Binance.US XRP delisting, please refer to our support article. As a reminder, Binance.US no longer lists or supports XRP. You acknowledge and accept the risks of any changes to digital currency protocols and agree that Binance.US is not responsible for any such changes and not liable for any loss you may experience as a result of such changes. The decision of Binance.US in relation to any disputes you raise with respect to this airdrop shall be final. Your access and use of our services is subject to our Terms of Use. Please note: Binance.US has yet to determine whether it will support the buying, selling or trading of Songbird (SGB) regardless, any SGB held in your Binance.US account will be available to withdraw. Binance.US to Provide XRP Balance Snapshots in Advance of Flare Distributionĭownload the Binance.US app to trade on the go: iOS | Androidįollow us on social media to stay up to date with Binance.US news and announcements:īinance.US reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.Introducing Songbird, the Canary Network for Flare.Refer to our Cryptocurrency Tax Reporting 101 article for more information.įor more information on the airdrop, please refer to: Note: Transactions must be reported at their fair market value, and in US dollars. See the IRS FAQs (Q21 - Q24) and Rev Rul 2019-24 for IRS guidance on forks and airdrops. Further taxability only occurs when one sells, exchanges, or transfers the asset. Note that if the airdropped tokens are stored in a wallet without being traded, there is no further taxable event. Generally, this is taxed as ordinary income at the fair market value on receipt date.

Receiving crypto from an airdrop is similar to winning money from a giveaway. For eligible customers, 0.1511 SGB are airdropped for every 1 XRP that was held at the time of the snapshot. The amount of SGB tokens you receive depends on how many XRP tokens you held in your Binance.US account at the snapshot time. If you qualified for the airdrop, your SGB tokens have been airdropped into your Binance.US wallet. How will I receive my Songbird (SGB) tokens? Songbird is a Canary network for Flare and features its own native token, Songbird (SGB).

Binance.US did not participate in the EXFI airdrop and does not currently plan to support EXFI.

Only the Songbird network is supported for SGB withdrawals.

The Songbird (SGB) token airdrop is separate from the Spark (FLR) token airdrop.

Once Binance.US customers receive the SGB tokens, they will be able to promptly withdraw these tokens from Binance.US. Binance.US does not charge any fees for this service.

Binance.US only supports this airdrop as an accommodation to customers by allowing SGB tokens to pass through Binance.US into eligible customer wallets.

For more information on our listings process, please see our Digital Asset Listings article.

Supporting this airdrop does not guarantee the listing of SGB on Binance.US.

Before we make any listing decision, SGB will go through the same strict listing review process that Binance.US does for all of its token listings. Binance.US has yet to determine whether it will support the buying, selling or trading of SGB on our platform. Songbird (SGB) is not listed on Binance.US.Please do NOT make SGB deposits to Binance.US. Withdrawals for SGB tokens have been enabled however, deposits for SGB tokens are not supported.The SGB airdrop amount is calculated based on the ratio of 1 XRP to 0.1511 SGB.Snapshots were taken at the first validated XRP ledger index number with a timestamp of 00:00 UTC (Dec.Binance.US customers who held 10 XRP tokens or more in their accounts at the time of the snapshot were eligible to receive the airdrop.Customers who are eligible for the airdrop can confirm receipt of these tokens via the Wallet page. We’ve listened to your feedback and are excited to announce that Binance.US has completed the Songbird (SGB) airdrop distribution to eligible XRP (XRP) holders.

Songbird crypto wallet